The medical significance of miniaturised or microscopic biological microarray chips, commonly known as biochips, has caused a revolutionising effect on the global healthcare industry. The global ICT and electronics sector has reaped benefits by incorporating latest scientific research in biochip technology into various medical fields such as bioinformatics or molecular biology. The wide range of biochip applications and products have catapulted the growth of the global biochips market size at a remarkable level.

The variable functionality of biochips is considered as a crucial advancement in medical technology. Performing abundant calculations in a few seconds and assessing the gene-decoding data by sending it to a computer quickly are the key features that have led to robust adoption of biochips.

The global biochips market value is set to increase at a substantial CAGR through 2020. The principal trend driving the growth of the biochips market is their efficacy in identifying various cancerous diseases.

Recent research in biotechnology has proved the gravity of medical benefits deduced by the use of biochips. The most crucial part of its medical approach is detection of cancerous cells and restricting their metastasizing in bloodstreams. The rising adoption of biochips as an integral component of cancer dialysis is inciting the growth of its global market. The influence of digital microfluidic biochips is growing in several biomedical fields, assisting the detection of bioterrorism agents and the analysis of gel-based and plate-based DNA arrays.

Drivers of the Global Biochips Market

Detection of Cancer & Other Diseases

Biochips are widely used to detect viral and bacterial agents that cause prevalent diseases such as anthrax, plague and smallpox. Detecting malignant cells in the body of a cancer patient helps the diagnosis in cancer treatments.

Personalisation of Medicine

Growth of personalised medicine has increased the demand for electronic biochips used for medical analysis by individual consumers.

Technical Developments

Less-invasive clinical procedures for installing biochips in the patient’s body are generating higher adoption in global medical organisations. Improving diagnostic methods and lowering expense through technical developments is also driving the demand for biochips.

Growth Limitations

Even though the benefits drawn from biochip use are way more conducive for the market’s growth, there are a handful of compelling factors to limit the expanse of the global biochips market. Lack of proper knowledge about biochip technology is a prominent restraint lowering the demand for biochip products.

The irregularities arriving in healthcare coverage around the world are also more likely to challenge the growth of biochips market. Variable cost and adoption of biochip technologies is likely to affect the personalisation of medicine, eventually lowering the revenues of the global biochips market.

Market Segmentation

To understand the biochip market outlook in depth, its global market is categorised into various segments based on,

Key Regions

North America

Latin America

Western Europe

Eastern Europe

Asia Pacific

Japan

Middle East and Africa

Type of Applications

Diagnostic

Neurological

Cardiac

Immune Disease

Others

Drug Discovery & Development

Microarray Type (Product Type)

Protein Chip

Lab-on-a-chip Microarray

DNA Chip

Others

Biochips Market: Key Competitors

Companies such as Cepheid Inc., Sigma Aldrich Corp., EMD Milliproe, Calipher Life Sciences Inc. and Agilent Technologies are some of the top players in the global market for biochips. Affymetrix Inc., another leading biochip manufacturer, was the first company to introduce commercial biochips called GeneChips. Redefining strategies involved in location of manufacturing facilities, technology outsourcing, consumer base enhancement, and mergers and alliances have helped shape up the competition in the global biochips market.

This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market segments, regions, product type and distribution channels.

The report covers exhaustive analysis on:

Market Segments

Market Dynamics

Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies involved

Technology

Value Chain

Regional analysis includes

North America

Latin America

Western Europe

Eastern Europe

Asia Pacific

Japan

Middle East and Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Report Highlights:

Detailed overview of parent market

Changing market dynamics of the industry

In-depth market segmentation

Historical, current and projected market size in terms of volume and value

Recent industry trends and developments

Competitive landscape

Strategies of key players and product offerings

Potential and niche segments/regions exhibiting promising growth

A neutral perspective towards market performance

Must-have information for market players to sustain and enhance their market footprint